This pay-as-you-go account lets you manage you day-to-day business banking needs. And as your business grows, add in a Business Banking Plan.

Terms and Conditions

Subject to interruptions in telecommunications or online systems or in power supply or any other factor or event beyond the control of Bank of Montreal.

Mobile Banking is only available for customers registered for Online Banking.

N/A

Assisted transactions refer to those completed at a BMO branch or with the assistance of a Customer Contact Centre associate.

Although BMO will not charge any fees in addition to your monthly Plan or account fees to access Mobile Banking, additional service fees may be charged by your service provider. Check with your service or hardware provider if you have questions about your specific device.

Applies to all deposits posted by Moneris to your BMO business account in connection with your acceptance of Mastercard, Visa*, Interac, Discover* or Union Pay* branded cards and American Express* transactions that are settled by Moneris - including deposit of settlement funds, terminal rental fee, and any other fees. American Express credit card transactions that are not settled through Moneris are not included in unlimited Moneris transactions, and are subject to separate terms and conditions. Standard transaction fees apply. Refer to Moneris Solutions for complete details. All other debit or credit transactions posted to your BMO account related to any other brand of card processed using Moneris services, are not included and may be subject to transaction limits associated with your Plan and/or excess per-item transaction fees. (* Visa, Discover, American Express and Union Pay are trademarks of their respective owners.)

Transactions include cheques negotiated and other debit or credit transactions to the account, including deposits (except cash and coin), withdrawals, electronic credits and debits, bill payment debits or debit card debits and credits. Cash and/or coin deposits are subject to deposit content fees of $2.25 per each $1,000 for cash and $2.25 per each $100 for coin.

There are no daily or monthly transaction fee limits. A $5.00 per item fee will apply to each transfer.

Overdraft limits range from $500 to a maximum of $2,499.99 and are subject to credit qualification.

Available in Canadian dollars only.

Interest is calculated on the daily overdrawn balance at prevailing overdraft interest rates and charged to the account on the last business day of each month.

A $5.00 per item fee will apply to each debit transaction that creates or increases the overdraft up to your approved limit.

There are no daily or monthly transaction fee limits. A $5.00 per item fee will apply to each debit transaction that creates or increases the overdraft.

This fee is in addition to any applicable transaction fees.

You are required to provide initial setup instructions for this service.

Interac e-Transfer service may be restricted based on BMO Debit Card for Business privileges.

Interac e-Transfers can only be sent from a Canadian dollar business account. Sending an Interac e-Transfer is considered an electronic debit to the account. Excess item or account per item fees may apply. The Interac e-Transfer fee is non-refundable, this includes cancellations. The AgriInvest Account and Business Premium Rate Savings Account are restricted from sending Interac e-Transfers.

Interac e-Transfers can only be credited to a Canadian dollar account. There is no additional charge to receive an Interac e-Transfer. Receiving an Interac e-Transfer is considered an electronic credit to the account. Excess item or account per item fees may apply.

Moneris payment processing fees still apply. Applies to all deposits posted by Moneris to your BMO business account in connection with your acceptance of Mastercard, Visa*, Interac, Discover* or Union Pay* branded cards and American Express* transactions that are settled by Moneris - including deposit of settlement funds, terminal rental fee, and any other fees. American Express credit card transactions that are not settled through Moneris are not included in unlimited Moneris transactions, and are subject to separate terms and conditions. Standard transaction fees apply. Refer to Moneris Solutions for complete details. All other debit or credit transactions posted to your BMO account related to any other brand of card processed using Moneris services, are not included and may be subject to transaction limits associated with your Plan and/or excess per-item transaction fees. (* Visa, Discover, American Express and Union Pay are trademarks of their respective owners.)

Customers are allowed one Canadian Dollar Business Account included in the Business Banking Plan. Interest-Bearing Business Current Accounts (existing customers) are not eligible for Bank Plan benefits.

The $1.50 per-item fee is waived for the first two Interac e-Transfer transactions sent each month. Sending and receiving money with Interac e-Transfer counts as an electronic transactions. Electronic excess or per-item transaction fees may apply.

Access to BMO Online Banking for Business is subject to individual agreements and applicable fees. Fees subject to change.

The monthly Business Banking Plan transaction limit includes cheques negotiated and other debit and credit transactions to the account including deposits, withdrawals, electronic credits and debits, bill payments or BMO Debit Card for Business purchases and refunds, and excludes customer initiated transfers between Business Bank Accounts. Cheques debited and transactions completed in branch or with an associate at the Customer Contact Centre count towards the monthly transaction limit first. Customer initiated transfers between Business Bank Accounts and account transaction histories completed through BMO Online Banking for Business, BMO Online Banking, BMO Mobile or BMO Tablet Banking do not count towards the monthly transaction limit.

The monthly Business Banking Plan transaction limit includes cheques negotiated and other debit or credit transactions to the account including deposits, withdrawals, electronic credits and debits, bill payment debits or debit card debits and credits.

Standard deposit contents fees will be waived on each month’s deposits up to these limits.

The monthly Business Banking Plan fee can be eliminated by maintaining the minimum monthly balance at all times in a Business Account. Customers are responsible for all other fees relating to any transactions, services and products not included in the Business Banking Plan. The minimum balance waiver is only eligible for customers with the Business Builder 3 and 4 Business Banking Plan

Features and benefits

Make deposits on your schedule – in-branch or BMO ATM

Get easy access to your account in-branch or online

Keep track of everything with free monthly eStatements

Add one of our Business Banking Plans when you need for a low monthly fee

Deposit content fees

Notes (currency) on deposit (per $1,000)

C$ $2.25

US$* $2.25

Coin on deposit (per $100, U.S. coin accepted at par)

C$ $2.25

US$* $2.25

Items on deposit – (per item, e.g. cheque) – Value for U.S. dollar items deposited to U.S. dollar accounts will be delayed from one to three business days to allow for clearing and international settlement.

C$ $0.20

US$* $0.20

Account debit per transaction

Cheque

C$ $1.25

US$* $1.25

Pre-authorized payment/electronic funds transfer

C$ $1.25

US$* $1.25

Debit card purchase

C$ $1.25

US$* N/A

ATM withdrawal

C$ $1.25

US$* N/A

Branch withdrawal

C$ $1.25

US$* $1.25

Bill payment (branch or via debit card)

$C$ 1.25

US$* $1.25

Customer Initiated transfer via branch or via debit card

Free

US$* Free

Monthly account administration fee

C$ $6.00

US$* $6.00

Monthly eStatement with cheque images

C$ Free

US$* Free

Monthly paper statement fee with cheque images

C$ $3.00

US$* $3.00

Fee per statement cycle, if statement produced more frequently than account standard

Be prepared for those just-in-case moments.

Overdraft protection

If you have a Business Current Account or an account with a Business Banking Plan, Small Business Overdraft Protection is available to support your cash flow needs. Great if you require less than $2,500 in overdraft protection9. Choose from two fee options:

Overdraft Transfer Service allows you to easily transfer funds from your other BMO account, BMO Small Business Mastercard®* card or your Small Business Line of Credit11. A fee of $5.00 per transfer applies14, 15

Need an account in U.S. dollars?

U.S. Dollar Business Current Account

Do you use cheques to make payments in the United States?

We’ll be clearing all your U.S. Dollar Business Current Account cheques in Canada.

Customers who use U.S. dollar cheques to make payments in the United States should be aware that it may take additional time for billers to receive funds. All cheques are encoded for payment through Canada, as specified by Payments Canada (PC). BMO Bank of Montreal has no control or authority over this delay. There may also be an additional service fee charged to the biller by their financial institution. Additionally, some smaller U.S. banks may not accept the PC encoded cheques.

Our solution for businesses that frequently make payments to U.S. suppliers/billers in the United States:

We can provide you with alternative U.S. cash management solutions. For example, Harris Bank**, our affiliate in the United States, provides services to meet cheque clearing within the United States.

**BMO Harris Bank is a trade name used by BMO Harris Bank N.A. and its affiliates. BMO Harris Bank N.A. is a member of the FDIC. Products offered by Harris Bank are subject to their approval process. Bank of Montreal does not represent BMO Harris Bank N.A. and is not an agent of BMO Harris Bank N.A.